Democratic Republic of São Tomé: Second Review under the Extended Credit Facility, Request for Waiver for Nonobservance of Performance Criterion, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for the Democratic Republic of São Tomé
March 3, 2021
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The COVID-19 pandemic is having a severe impact on São Tomé and Príncipe’s economy, exacerbating fiscal and external imbalances. Tourism activities and external remittances dropped sharply, while lockdown measures further deepened the recession. The authorities’ swift actions and unprecedented international financial support are helping the country weather the emergency. The economy began to reopen in the fall, but the outlook for 2021 remains challenging and subject to significant uncertainty.
Subject: External debt, Health, National accounts, Public debt
Keywords: Africa, Arrears, Central Africa, COVID-19, CR, Ecf arrangement, end-December outturn, financing needs, GDP estimate, Global, ISCR, staff appraisal, staff statement, Sub-Saharan Africa
Pages:
118
Volume:
2021
DOI:
Issue:
051
Series:
Country Report No. 2021/051
Stock No:
1STPEA2021001
ISBN:
9781513571089
ISSN:
1934-7685
